͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌    ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­

Best of Worst

Twenty-four years ago today, I awoke in Toronto to the news of a plane flying into the World Trade Center, and the slow, terrible realization of what was happening, and how quickly the world would change. This post is not about 9/11, though like others, I will be remembering the victims, their families, the survivors, and those still being affected by the events of that day in more ways than I can name here. I was at the Toronto Film Fest on 9/11, and I’ve been back every year, and each time, someone there, or a group of us, told their story of this day. This was the first year that I didn’t hear it come up. It was also a festival of some muted exuberance, with everyone seeming in good spirits about the film world, both in the art and the business. But I can’t shake the feeling that these two things are somehow related. That we’re somehow keeping our eyes so laser-focused on the good side of things, that we have a collective amnesia about the bad, and it might be blinding us to other things on the horizon. Remember, what everyone says about that 9/11 – it was a beautiful day, with a balmy blue-sky just before the planes hit the towers. Best of worst.

But there’s no denying there’s been balmy blue-sky feelings in the industry. There are multiple new film distributors on the scene, acquiring films; with at least ten new players by my rough count. The bigger (non-streamer conglomerate) distributors seem to be getting bigger – Mubi being the new A24, A24 being the new… something1-2 Special being the new Sideshow (or maybe the new Mubi), Blackbear becoming the new major studio, and so on and so forth. Films are somehow getting financed, and business is happening, even if no sales agent I spoke with seems to have any mechanism to value North American rights anymore. As several told me at TIFF – rough quote here, “it’s feast or famine, you either sell for seven figures, or get zero offers, so we put a zero in that column and hope for a cherry on top.” But all accounts are that while the TIFF market was slow (only one sale reported as of today), the business is back, many films are being considered, and most sales agents and distributors feel cautiously optimistic, and a few are even bullish.

The documentary market is a little rougher. The marketplace in the US continues to collapse. We have major cuts at PBS, and all attention from the major funders is focused on how to save some remnants of Independent Lens and POV, and not so much on the rest of the sector None of the major streamers are buying nearly as many docs, and they seem to be performing worse at the box office than ever before. As a result, no one is sure how these films will get funded anymore. But on the bright side, they’re still showing up, and when you play them at film festivals, you get big, enthusiastic audiences. And doc filmmakers won’t ever give up, anyway, right?! And in another good sign, one major sales agent told me they’re still mainly selling US docs to the international market, which remains much healthier (for the time being) than that of the US.  Best of the worst of times.

Brands continue to launch film divisions, and from the emails hitting my inbox hourly, every filmmaker is now seeking their funding for their films, where they didn’t know this sector existed five years ago (or did, but turned up their noses at it). We’re busier than ever here at Sub-Genre with our brand business, but in full transparency, our happiest clients are the ones making short films, where they can control the distribution and their success, instead of relying on a slack marketplace – or they have a feature and planned to control their distribution before they shot their movie. My advice to the entire sector remains the same – make things for your audience, not for some streamer; shift focus from docs to narrative works, as the marketplace has already done; embrace the creator-sphere as it matures and takes over our attention; take a look at being a curator and distributor yourself, and budget for your distribution. But even as I plan to go to MIPCOM with BrandStorytelling in a couple of weeks – a sign of blue-skies, I also get emails every week about a new round of layoffs, or another film division cutting budgets. Again, best of the worst of times.

The Fall Film festivals seem to be performing well – good films, sizable audiences and some upswing in revenues. I was at Locarno before the end of Summer, and the fest atmosphere was as exuberant as I’ve seen it, with great audience turnout, and apparently more press buzz than usual. At both Locarno and TIFF (alas, I didn’t make it to Telluride or Venice), everyone seemed to be gearing up for Sundance’s last hurrah in Park City in 2026. One gets the feeling that anyone and everyone will be in attendance, but… mainly to say goodbye to what has been. Meanwhile, people seem much less sure about how things will work out in Boulder – even if everyone loves them and is rooting for their success. That said, everyone is worried about a lot of high-profile staff exists, including a search for a new executive director while on the cusp of a move. A lot of people seem to think the Berlinale is poised to take back more attention with its new (and well-liked) leadership. But I also spoke with many major festival leaders who admitted that times have never been tougher. There are government budget cuts, sponsorships are down at many places, a lot of festivals are servicing major debt-loads, and many privately concede that the only reason many are still operational is because they’ve always been leanly staffed by tireless lovers of the artform, and that because of the razor’s edge of sustainability, too few can think about how to transform for the future. 

And no one in the business seems to be focused on the fact that most of the audience is at home, with a podcast playing on YouTube in the background, while multitasking on something else. At best, they’re hearing about a new film they might not ever remember to watch. Breaking through to get those people’s attention is the name of the game today, and that’s not happening via film festivals, current marketing practices or in the algorithm on the major platforms. 

So, while the attitude of many is optimistic and hopeful that we’re turning some corner across the board and throughout the sector, I have a nagging question. Are we at the best of the worst of times, meaning we’re at the tail end of the bad times, and headed into a new best of times? Or is this the best of the bad times, and we’re just one unexpected turn from even worse times ahead? I bet your answer to that question will depend on your disposition, and mine normally leans towards optimism, but I will admit to a nagging hunch that we’re looking at the latter scenario. 

Brian Newman & Sub-Genre Media

About

Past Newsletters

Subscribe